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Daimler: Oddo raises 2017 estimates.

(CercleFinance.com) - Oddo has confirmed its buy rating on the Daimler stock, along with its target price of 81 euros, after the German carmaker announced its Q3 results.

Q3 reported EBIT is down 14.3% and has risen by 18.7% over 9 months, while Oddo expected 3,783 million euros. EBIT is flat at the Auto division, due to a high comparison basis (margin of 11.4% in Q3 16), while it is up sharply at the group's Truck division and down for one-off reasons in Vans, the broker's analysts underlined.

The group has: i/ confirmed its guidance of EBIT published at the group level (up significantly), in the Auto division (significant increase) and in Vans (stable), ii/ raised its guidance for the Truck divisions (significant increase vs. stable before) and FS (significant increase vs. slight increase previously) and iii/ downgraded its targets/Bus (slight decrease vs. slight increase previously).

The broker has increased its estimate for the group's 2017 EBIT by 3.8%, with its 2017 EPS estimate up 2.4%.

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